Question

#1. If someone puts $200 into an account at 8% interest for you when you are born, how much

money will you have when you are 65 years old?

Answer 1

$1,040

Explanation:

First, turn your percent into a decimal

8% = 0.08

Next, multiply your decimal by 65.

0.08 × 65 = 5.2

Lastly, multiply your product by $200

5.2 x $200 = $1,040